The AUD/USD pair fell apart during the session on Thursday as the 1.05 handle gave way as support. This pair has been consolidating for quite some time, and the action for Thursday would have been a bit surprising to most of us. It now looks like we will reach and try to find the 1.04 handle and look for support there. Regardless, we are not quite ready to start selling the Australian dollar yet, as the overall markets don’t look overly bearish at this point. We will sit and wait and look for some type of supportive sign in order to start going long again.
Written by FX Empire